Hong Kong Disneyland Architect Quits

March 8, 2016

NewsStandOnline.Net (8-March-2016): Walt Disney Parks and Resorts has appointed Samuel Lau managing director of Hong Kong Disneyland Resort.

Lau replaces Andrew Kam, who resigned for personal reasons, the Hong Kong Economic Journal reports. The change comes ahead of the grand opening of Shanghai Disneyland Resort in June.

Kam was appointed to the role in 2008, the first Chinese managing director of the theme park which opened in 2005. Lau is a former vice president of operations.

Hong Kong Disneyland Architect Quits

Kam undertook aggressive cost-cutting that allowed the company to turn a profit in 2012 after seven years of losses.

It reported a net profit of HK$332 million (US$42.72 million) in 2014 but returned to the red in 2015 with a loss of HK$148 million amid plunging tourist arrivals.

Visitors to the theme park slumped 9.3 percent last year.  It expects growth in attendance next year with the opening of more amusement and entertainment facilities and a new resort.